Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Have you recently switched from a luxury sedan to a luxury SUV? A reporter would like to talk to you; please reach out to [email protected] by 7/25 for more details.
Did you get a great deal? Let us know in the Values & Prices Paid section!
Meet your fellow owners in our Owners Clubs

To Fix Up or Trade Up, That is the Question

1222325272830

Comments

  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Oh, I was thinking they find a buyer, close a deal and then pay off the loan by adding their own money---but i guess after re-reading, that they are stone broke here?

    In THAT case, fixing the car seems the only reasonable option. You don't buy a new car for penniless people--that's just crazy and ASKING for more grief---such as, what happens if they smash up the new car and don't have gap insurance? Guess who gets stuck for the difference.
  • I'd like to do that, but you have to remember the 100 megaton blast that will ensue. I'd really like to hammer some sense into their heads.

    I'm very leery of the "$5,000 minimum trade gimmicks, i usually change the station when i hear one, but they are everywhere here in FL. Can't find a forum topic on thet subject here - maybe i'm looking at in the wrong sections. In orlando it's mostly the Kia dealers. If they do execute a new car trade in with this libeerty, there wioll only be 1 loan, albiet an inflated one. but that leads me to question what thell did they get into when they bought this current vehicle?????

    I haven't seen the liberty. They are all in the Tampa area and I'm working in Orlando. I'll be there this weekend. Word from my wife, from her neice (with total car knowledge is what your 8 yr old sister might know) is that a radiator failure (crack??) caused an overheat an engine fail on the interstate.
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    edited October 2011
    Okay an overheat might only mean a head gasket unless they just ignored the heat gauge, the oil gauge, and lots of noise and smoke and just put the pedal to the metal anyway. It takes a lot to destroy a modern engine--almost an intention to do so.
  • kyfdxkyfdx Everywhere, USAPosts: 122,878
    Or, buy them a beater for $2500, and let them keep making payments on the Jeep....

    Now, chances are.... they won't keep up with the payments... (and, no offense to your relatives), because most people can't separate "money owed" from the car payment...

    So, they'll probably get it repossessed...

    But, at least you are only out $2500....

    You seem to know that you can't fix their problems.... so, just do the minimum to allow them to keep working (and, minimize your cash outlay until the next time).

    That's what I would do.. but, it's harder when it's someone you care about....

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • They both work, and a new car loan would be in their names. I'm trying to not have to foot a down payment - but that may not be possible. I'm also concernewd about an already 8 year old car that they STILL owe over $8,000 on...

    They are paying their bills on time, etc, but have no savings, and i don't know the details on this liberty they bought. They know i have the knowledge they need for these things but they are too stubborn to seek out competent advice before they execute a large financial transaction. Same with mey brother (wife's nephew) who has even less financial sense and no car knowledge either.
  • Buying a "beater" might make sense, but that's onlay a $1,000 difference and we don't know the potential beater's history.

    Is there any consensus on geatting a new car and putting $3,600 (possibly more depending on what one of those minimum trade scams are really hiding) of negative equity into the new car loan (or a down payment - there goes my my cash again..)???

    That would at least get them a car with a warranty.

    No offense taken. Their younger brother (wife's nephew) already had a near repo - guess who paid for that??? You know what - that car, currently owned by their parents, is available. Maybe they can use that car. Sure, that would make sense. don't get me started.
  • im_brentwoodim_brentwood Posts: 4,883
    Mike,

    $5000 minimum trade? Sure. $3995 or more over sticker.

    Reality is that this Jeep with a blown engine is worth $500 as a trade in. So... you probably have $8000 to bury in the new car deal.. that's gonna be tough unless they have stellar credit and buy something that you can bury that kind of money in, and that ain't gonna be a $18k car.
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    The dealer is not going to lose money on this deal so one way or the other he's not going to give you $5000 real dollars for a $500 crippled car.
  • kyfdxkyfdx Everywhere, USAPosts: 122,878
    You know what - that car, currently owned by their parents, is available. Maybe they can use that car. Sure, that would make sense. don't get me started.

    That's sure the way I would push it.... Let them keep making payments on that Jeep... while driving someone else's (free) car..

    I'd rather dole out a few hundred at a time, if they really needed it.... or, just be extra generous at Christmas... rather than have them come to you for multiple thousands at a time... That's a hard habit to break...

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • fezofezo Manahawkin, NJPosts: 10,369
    Wow. That's a lot of issues at once. Sure sounds to me like the letting them sue the free car in the family while continuing to pay for the quasi-dead Jeep is the best of a lot of lousy options.

    I can remember thinking that my parents (an uncle? wow. just wow.) should bail me out when I was younger so I get a little of the mindset but short of them having to face economic reality and deal with it this will never end.

    We have a few of those $5,000 over on any trade here in NJ. Most of them are (sorry, Bill) Hyundai dealers.
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • kmurpkmurp Posts: 21
    edited November 2011
    Took it in for the 120,000 mile service and they found problems with the water pump and rack and pinion steering. Cost would be 1800 or so. We are out of our "minivan years", though on occasion the cargo capacity of the van is handy. Would you trade or fix up?
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Well $1800 is maybe what...40% of the trucks' value? So yeah, that's pushing the limits of when not to repair something....however, in that value range, you can't buy anything short of a steaming pile of junk for $1800-- so if you must have a second vehicle---I'd roll with this one---better the devil you know than...etc etc.

    Is the pump leaking or just noisy? What's with the steering?
  • fezofezo Manahawkin, NJPosts: 10,369
    I'd agree with fixing it unless you are eager to leave that minivan phase.

    I just traded an 04 Odyssey that no doubt has loads of life if not value in it because I was nuts having to always drive it. Got a Solara convertible. MAde out well on the deal so I'm happy.
    2015 Mazda 6 Grand Touring, 2014 Mazda 3 Sport Hatchback, 1999 Mazda Miata 2004 Toyota Camry LE, 1999.
  • qbrozenqbrozen Posts: 25,802
    edited November 2011
    Ehhh... On the surface, it would seem a good idea to put $1800 into a vehicle with only 120k miles; however, those older 4-speed transmissions from Chrysler are pretty notoriously weak. Have you ever replaced the trans?

    '18 BMW 330xi; '67 Coronet R/T; '14 Town&Country Limited; '18 BMW X2. 47-car history and counting!

  • kmurpkmurp Posts: 21
    Thanks for the replies:
    I have not replaced the tranny but for years it has lurched and jerked from first to second. Not always but sometimes.
    I was afraid someone would ask about the repair details... I don't remember the specifics of the steering problem.
    I am kinda done with minivans. That said, wife likes having one around and she hates car payments. (experience has taught me she's usually right).
  • suydamsuydam Posts: 4,056
    That is a tough problem. It may be getting to the age when it will be one repair after another. You don't say what you can afford to buy if you replace it. And if you want to sell it you'll have to fix it anyway. You might pay the $1800 but be thinking about replacing it within a year or so and put some money aside for a down payment.
    '14 Buick Encore Convenience
    '17 Chevy Volt Premiere
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Well without the repair details, we don't have the critical information to make a good call. For instance, if the water pump is a little noisy, well, for occasional local trips that could last a long time; if it is leaking badly, then of course you have to do it sooner than later. Ditto on the steering. If it's just dripping a little, I'd just keep adding fluid every few weeks.
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,425
    The best move for the relatives is to NOT be an enabler. Let the school of "Hardknox" take its course. When you become a banker for one relative, you become a banker for all. :(
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,425
    Over a few years, the depreciation on a newer replacement can amount to more than the cost of repairing the original vehicle.

    $35,000 for a new one today causes it to be worth $20,000 in 3 years while repairing the original car may be less than $3,500. In addition, you have to consider the investment loss of taking $35,000 out of the market to buy the depreciating motor car. ;)
  • I was recently in a minor fender bender with my 2010 Scion TC in which the damage is all cosmetic. I got a check from the insurance company for the repairs (about $1500) but I'm thinking about trading in the car and getting an Infiniti. Is it worth my while to get the Scion fixed before I trade it it or would it be better to keep the insurance money and use that as part of the down payment? Thanks for the help!!
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Well you corner them by bringing it in as is, and getting a quote on the trade-in, and when they give that to you, ask them what they'd pay if the car were all fixed up.

    Now keep in mind that the trade-in price can be made to look better than it is, because they can pack the selling price.

    What I'd do is first work out a selling price for the car you want and don't even mention that you have a trade-in. Then come back the next day with the car and say you've decided to trade it.

    I know they'll hammer you for the damage but hard to say if it's going to be $1500 or not. They can fix the car a lot cheaper than you can.
  • Great advice, I'll give it a try and see what they say. Thank you!
  • bolivarbolivar Posts: 2,316
    Well, this is one of those things where we might need to see the damage. But I had about $1400 in damage, which was one small nick in a plastic panel and some paint damage that I waxed out. You say this is a 2010 auto, which I consider rather new. If there is much visible damage, I would lean toward getting it fixed. But the approach discussed by others might be a good way to go. If there is much of a panel damage somewhere, I would think a dealer will really mark in down, even if their body shop could get it repaired for far less than the $1500 estimate you have gotten.
  • srs_49srs_49 Posts: 1,394
    We had a 2002 Subaru Outback (Pearl White?) that had received some minor paint damage on the front corner of the bumper and the rear quarter panel (2 separate incidents). I did not want to make an insurance claim for them, so just drove around with damage for several years.

    In 2008, we sold the car to my son, but he wanted the damaged areas fixed up. So we took it to an independent shop and for something like $350 plus a case of Bud Lights :P they repaired both damaged areas. I was really surprised at how cheap it was.
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Well your good fortune but in general $350 bucks where I live would get you someone filling their mouth with paint and spitting in on the car.
  • kyfdxkyfdx Everywhere, USAPosts: 122,878
    Didn't Farrah Fawcett do something like that?

    Covered herself in paint, then rolled around on a canvas and left butt-prints? :surprise:

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    back away from the YouTube website.....

    I had my back bumper redone on the cheap and it was okay but I recently saw the car (I sold it, a Scion xA, 2 years ago) and the paintwork has definitely deteriorated.
  • rmsarmarmsarma Posts: 8
    I have cylinder head that needs replacement on my 2000 infiniti i30t, i have 127K on the engine, is it worth fixing the engine or should i junk the car... suggestions welcome, i have an estimate of 4k to includes cylinder head, gasket and labor...

    The dealer estimate was 7k for parts and labor with no guarantee, ...
  • rmsarmarmsarma Posts: 8
    I have cylinder head that needs replacement on my 2000 infiniti i30t, i have 127K on the engine, is it worth fixing the engine or should i junk the car... suggestions welcome, i have an estimate of 4k to includes cylinder head, gasket and labor...

    The dealer estimate was 7k for parts and labor with no guarantee, ...
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Very marginal...I'm leaning towards saying "no, don't fix it". My reasoning is based on the mileage, and also the fact that reconditioning new cylinder heads atop an old high mileage engine is risky...

    Has the vehicle been properly diagnosed or are people guessing? Has a compression test or cylinder leakdown test been taken and have you been shown the results?
Sign In or Register to comment.